(g) Provisions and contingent liabilities and Contingent Assets:

Provisions are recognized, when there is a present legal or constructive obligation as a result of a past
event, it is probable that an outflow of resources will be required to settle the obligation, and when a
reliable estimate of the amount of the obligation can be made. If the effect of the time value of money is
material, the provision is discounted using a pre-tax rate that reflects current market assessments of the time
value of money and the risks specific to the obligation and the unwinding of the discount is recognised as
interest expense.

Contingent liabilities are recognized only when there is a possible obligation arising from past events, due
to occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of
the Company, or where any present obligation cannot be measured in terms of future outflow of resources,
or where a reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing
basis and only those having a largely probable outflow of resources are provided for.

Contingent assets are not recognized in the financial statements.

(h) Revenue recognition:

Revenue from contracts with customers

Revenue is recognised when a performance obligation in a customer contract has been satisfied by
transferring control over the promised goods to the customer. Control over a promised good refers to the
ability to direct the use of, and obtain substantially all of the remaining benefits from, those goods. Control
is usually transferred upon shipment, delivery to, upon receipt of goods by the customer, in accordance
with the individual delivery and acceptance terms agreed with the customers.

The Company considers whether there are other promises in the contract that are separate performance
obligations to which a portion of the transaction price needs to be allocated. In determining the transaction
price, the Company considers the effects of variable consideration, the existence of significant financing
components, noncash consideration and consideration payable to the customer, if any.

Revenue is measured based on the transaction price, which is the consideration, adjusted for discounts and
other credits, if any, as specified in the contract with the customer. The Company presents revenue from
contracts with customers net of indirect taxes in its statement of profit and loss.

Contract balances

Contract asset is the right to consideration in exchange for goods or services transferred to the customer.
If the Company performs by transferring goods or services to a customer before the customer pays
consideration or before payment is due, a contract asset is recognised for the earned consideration that is
conditional.

Trade receivable represents the Company's right to an amount of consideration that is unconditional (i.e.,
only the passage of time is required before payment of the consideration is due).

Contract liability is the obligation to transfer goods or services to a customer for which the Company
has received consideration (or an amount of consideration is due) from the customer. If a customer pays
consideration before the Company transfers goods or services to the customer, a contract liability is
recognised when the payment is made, or the payment is due (whichever is earlier). Contract liabilities are
recognised as revenue when the Company performs under the contract.

Export incentive entitlement

Export incentive entitlements include duty credit scrips are recognised when there is a reasonable assurance
that the Company has complied with the conditions attached to them and it is reasonably certain that the
ultimate realisation will be made. These are recognized in the period in which the right to receive the same
is established, which generally coincides with the period during which the exports eligible for incentives
are made.

Interest income

Interest income, including income arising from other financial instruments measured at amortized cost, is
recognized using the effective interest rate method.

(i) Foreign currency translation

Foreign currency transactions and balances

i) Initial recognition - Foreign currency transactions are recorded in the reporting currency, by applying
to the foreign currency amount the exchange rate between the reporting currency and the foreign
currency at the date of the transaction.

ii) Conversion - Foreign currency monetary items are retranslated using the exchange rate prevailing at
the reporting date. Non-monetary items, which are measured in terms of historical cost denominated
in a foreign currency, are reported using the exchange rate at the date of the transaction. Non-monetary
items, which are measured at fair value or other similar valuation denominated in a foreign currency,
are translated using the exchange rate at the date when such value was determined.

iii) Exchange differences - The Company accounts for exchange differences arising on translation/
settlement of foreign currency monetary items as income or as expense in the period in which they
arise.

(j) Employee Benefits:

(i) Short-term Obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled
wholly within 12 months after the end of the period in which the employees render the related
service are recognised in respect of employees' services up to the end of the reporting period and
are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are
presented as current employee benefit obligations in the balance sheet.

Other benefits, comprising of discretionary Long Service Awards and Leave Travel Allowances, are
determined on an undiscounted basis and recognised based on the entitlement thereof.

(ii) Other long-term employee benefit obligations

The liabilities for earned leave are not expected to be settled wholly within 12 months after the end
of the period in which the employees render the related service. They are therefore measured as the
present value of expected future payments to be made in respect of services provided by employees up
to the end of the reporting period using the projected unit credit method. The benefits are discounted
using the market yields at the end of the reporting period that have terms approximating the terms of
the related obligation. Re-measurements because of experience adjustments and changes in actuarial
assumptions are recognised in profit or loss.

The obligations are presented as current liabilities in the balance sheet if the entity does not have an
unconditional right to defer settlement for at least twelve months after the reporting period, regardless
of when the actual settlement is expected to occur.

(iii) Post-employment obligations

Retirement benefits in the form of state governed Employee Provident Fund and Employee Pension
Fund Schemes are defined contribution schemes (collectively the 'Schemes'). The Company
has no obligation, other than the contribution payable to the Schemes. The Company recognizes
contribution payable to the Schemes as expenditure, when an employee renders the related service.
The contribution paid in excess of amount due is recognized as an asset and the contribution due in
excess of amount paid is recognized as a liability.

Gratuity, which is a defined benefit plan, is accrued based on an independent actuarial valuation,
which is done based on project unit credit method as at the balance sheet date. The Company
recognizes the net obligation of a defined benefit plan in its balance sheet as an asset or liability.
Gains and losses through re-measurements of the net defined benefit liability/ (asset) are recognized
in other comprehensive income. In accordance with Ind AS, re-measurement gains and losses on
defined benefit plans recognized in OCI are not to be subsequently reclassified to statement of profit
and loss. As required under Ind AS compliant Schedule III, the Company recognizes re-measurement
gains and losses on defined benefit plans (net of tax) to retained earnings.

Changes in the present value of the defined benefit obligation resulting from plan amendments or
curtailments are recognized immediately in profit or loss as past service cost.

Superannuation, Certain employees of the company are participants in a defined contribution plan. The
Company recognizes contribution payable to the Scheme as expenditure, when an employee renders
the related service. The Company has no further obligations to the Plan beyond its contribution which
are periodically contributed to a trust fund, the corpus of which is invested with the Life Insurance
Corporation of India

Accumulated leave, which is expected to be utilized within the next twelve months, is treated as
short-term employee benefit. The Company measures the expected cost of such absences as the
additional amount that it expects to pay as a result of the unused entitlement that has accumulated at
the reporting date.

The Company treats accumulated leave expected to be carried forward beyond twelve months, as
long-term employee benefit for measurement purposes. Such long-term compensated absences are
provided for based on the actuarial valuation using the projected unit credit method, made at the end
of each financial year. Actuarial gains/losses are immediately taken to the statement of profit and loss.
The Company presents the accumulated leave liability as a current liability in the balance sheet, since
it does not have an unconditional right to defer its settlement for twelve months after the reporting
date.

(k) Borrowing Costs:

General and specific borrowing costs directly attributable to the acquisition or construction of qualifying
assets that necessarily takes a substantial period of time to get ready for their intended use or sale, are
added to the cost of those assets, until such time as the assets are substantially ready for their intended use
or sale. Borrowing costs consist of interest and other costs that the company incurs in connection with the
borrowing of funds.

Interest income earned on temporary investment of specific borrowings pending their expenditure on
qualifying assets is deducted from the borrowing costs eligible for capitalization. Borrowing costs that are
not directly attributable to a qualifying asset are recognised in the Statement of Profit or Loss using the
effective interest method.

(l) Income Taxes:

Income tax expense comprises current tax expense and the net change in the deferred tax asset or liability
during the year. Current and deferred tax are recognised in profit or loss, except when they relate to items
that are recognised in other comprehensive income or directly in equity, in which case, the current and
deferred tax are also recognised in other comprehensive income or directly in equity, respectively.

(i) Current tax:

Current Tax expenses are accounted in the same period to which the revenue and expenses relate.
Provision for current income tax is made for the tax liability payable on taxable income after considering
tax allowances, deductions and exemptions determined in accordance with the applicable tax rates
and the prevailing tax laws. Current tax assets and current tax liabilities are offset when there is a
legally enforceable right to set off the recognised amounts and there is an intention to settle the asset
and the liability on a net basis.

(ii) Deferred tax :

Deferred income tax is recognised using the balance sheet approach. Deferred income tax assets
and liabilities are recognised for deductible and taxable temporary differences arising between the
tax base of assets and liabilities and their carrying amount in financial statements, except when the
deferred income tax arises from the initial recognition of goodwill, an asset or liability in a transaction
that is not a business combination and affects neither accounting nor taxable profits or loss at the time
of the transaction.

Deferred income tax assets are recognised to the extent that it is probable that taxable profit will be
available against which the deductible temporary differences in the foreseeable future and the carry
forward of unused tax credits and unused tax losses can be utilised.

The carrying amount of deferred tax assets is reviewed at each Balance Sheet date and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part
of the deferred income tax asset to be utilised.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period
in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been
enacted or substantively enacted by the Balance Sheet date.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current
tax assets against current tax liabilities and when they relate to income taxes levied by the same
taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.

Minimum Alternative Tax ("MAT") credit is recognized as an asset only when and to the extent there is
reasonable certainty that the Company will pay normal income tax during the specified period. Such
asset is reviewed at each Balance Sheet date and the carrying amount of the MAT credit asset is written
down to the extent there is no longer a reasonable certainty to the effect that the Company will pay
normal income tax during the specified period.

(m) Financial Instruments:

Financial Assets:

Classification

The Company classifies financial assets as subsequently measured at amortised cost, fair value through other
comprehensive income ('FVTOCI') or fair value through profit or loss ('FVTPL') on the basis of its business
model for managing the financial assets and the contractual cash flow characteristics of the financial asset.

Initial Recognition and measurement:

All financial assets (not measured subsequently at fair value through profit or loss) are recognised initially
at fair value plus transaction costs that are attributable to the acquisition of the financial asset. However,
trade receivable that do not contain a significant financing component are measured at transaction price.
Purchases or sales of financial assets that require delivery of assets within a time frame established by
regulation or convention in the marketplace (regular way trades) are recognised on the trade date, i.e., the
date that the Company commits to purchase or sell the asset.

Debt instruments at amortised cost

A 'debt instrument' is measured at the amortised cost if both the following conditions are met:

a) The asset is held within a business model whose objective is to hold assets for collecting contractual
cash flows, and

b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of
principal and interest (SPPI) on the principal amount outstanding.

After initial measurement, such financial assets are subsequently measured at amortised cost using the
effective interest rate (EIR) method.

Amortised cost is calculated by considering any discount or premium and fees or costs that are an integral
part of the EIR. The EIR amortisation is included in finance income in the Statement of Profit and Loss. The
losses arising from impairment are recognised in the Statement of Profit and Loss. This category generally
applies to loans and advances, deposits, trade, and other receivables.

Debt instruments included within the fair value through profit and loss (FVTPL) category are measured at
fair value with all changes recognized in the Statement of Profit and Loss.

De-recognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets)
is primarily derecognised (i.e., removed from the Company's balance sheet) when:

- The rights to receive cash flows from the asset have expired, or

- The Company has transferred its rights to receive cash flows from the asset or has assumed an
obligation to pay the received cash flows in full without material delay to a third party under a 'pass¬
through' arrangement; and either:

(a) the Company has transferred substantially all the risks and rewards of the asset, or

(b) the Company has neither transferred nor retained substantially all the risks and rewards of the
asset, but has transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into
a pass-through arrangement, it evaluates if and to what extent it has retained the risks and rewards of
ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the
asset, nor transferred control of the asset, the Company continues to recognise the transferred asset to the
extent of the Company's continuing involvement. In that case, the Company also recognises an associated
liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and
obligations that the Company has retained. Continuing involvement that takes the form of a guarantee over
the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum
amount of consideration that the Company could be required to repay.

Financial Liabilities
Classification

The Company classifies all financial liabilities as subsequently measured at amortised cost, except for
financial liabilities at fair value through profit or loss. Such liabilities, including derivatives that are
liabilities, shall be subsequently measured at fair value.

Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or
loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective
hedge, as appropriate including derivatives that are liabilities, shall be subsequently measured at fair value.

All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and
payables, net of directly attributable transaction costs.

The Company's financial liabilities include trade and other payables, loans and borrowings including bank
overdrafts, financial guarantee contracts and derivative financial instruments.

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and
financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial
liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near
term.

Gains or losses on liabilities held for trading are recognised in the Statement of Profit and Loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at
the initial date of recognition, and only if the criteria in Ind-AS 109 - "Financial Instruments" are satisfied.
For liabilities designated as Fair Value through Profit and Loss ("FVTPL"), fair value gains/ losses attributable
to changes in own credit risk are recognized in Other Comprehensive Income ("OCI"). These gains/losses
are not subsequently transferred to the Statement of Profit and Loss. However, the Company may transfer
the cumulative gain or loss within equity. All other changes in fair value of such liability are recognised
in the Statement of Profit and Loss. The Company has not designated any financial liability as at fair value
through profit or loss.

Loans and borrowings

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised
cost using the EIR method. Gains and losses are recognised in the Statement of Profit and Loss when the
liabilities are derecognised.

Amortised cost is calculated by considering any discount or premium on acquisition and fees or costs that
are an integral part of the Effective Interest Rate ('EIR'). The EIR amortisation is included as finance costs in
the Statement of Profit and Loss.

This category generally applies to interest-bearing loans and borrowings.

De-recognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or
expires. When an existing financial liability is replaced by another from the same lender on substantially
different terms, or the terms of an existing liability are substantially modified, such an exchange or
modification is treated as the de-recognition of the original liability and the recognition of a new liability.
The difference in the respective carrying amounts is recognised in the Statement of Profit and Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset, and the net amount is reported in the balance sheet if
there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle
on a net basis, to realise the original liability and the recognition of a new liability. The difference in the
respective carrying amounts is recognised in the Statement of Profit and Loss.

(n) Earnings Per Share:

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post-tax effect of
extraordinary items, if any) by the weighted average number of equity shares outstanding during the year
including potential equity shares, if any, on compulsory convertible debentures. Diluted earnings per share
is computed by dividing the profit / (loss) after tax (including the post-tax effect of extraordinary items, if
any) as adjusted for dividend, interest and other charges to expense or income (net of any attributable taxes)
relating to the dilutive potential equity shares, by the weighted average number of equity shares considered
for deriving basic earnings per share and the weighted average number of equity shares which could have
been issued on the conversion of all dilutive potential equity shares.

(o) Cash and cash equivalents and cash flow statement

Cash and cash equivalents comprise cash on hand and demand deposits, together with other short term,
highly liquid investments maturing within three months from the date of acquisition and which are readily
convertible into cash, and which are subject to only an insignificant risk of changes in value. Cash flows are
reported using the indirect method, whereby profit/ (loss) before extraordinary items and tax is appropriately
classified for the effects of transactions of non-cash nature and any deferrals or accruals of past or future
receipts or payments. In cash flow statement, cash and cash equivalents include cash in hand, balances
with banks in current accounts and other short- term highly liquid investments with original maturities of
three months or less.

Note 4. Standards issued but not yet effective:

Ministry of Corporate Affairs (“MCA") notifies new standards or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued from time to time. For the year ended March 31,
2026, MCA has notified Ind AS - 117 Insurance Contracts and amendments to Ind AS 116 - Leases, relating to
sale and leaseback transactions, applicable to the Company w.e.f. April 1,2024. The Company has reviewed the
new pronouncements and based on its evaluation has determined that it does not have any significant impact
in its financial statements.

33 SEGMENT REPORTING:

The Primary Operation of the Company relate only to one segment viz., friction materials.

Geographical Segements:

The analysis of geographical segment is based on the geographical location of the customers. The Company operates
primarily in India and has presence in international markets as well. Its business is accordingly aligned geographically,
catering to two markets i.e. India and Outside India. For customers located outside India, the Company has assessed
that they carry same risk and rewards. The Company has considered domestic and exports markets as geographical
segments and accordingly disclosed these as separate segments. The geographical segments considered for disclosure
are as follows:

- Sales within India include Sales to customers located within India.

- Sales outside India include sales to customers located outside India
Secondary Segment Reporting (by Geographical Segments)

The following is the distribution of the Company's total revenue of operations by geographical market, regardless of
where the goods were produced:

35 EMPLOYEE BENEFITS
Defined Contribution Plans

(i) Superannuation

Eligible employees receive pension from Life Insurance Corporation of India, which is a defined contribution plan.
Monthly Pension is paid after retirement, death, incapacitation or termination of employment for the life time and
amount lying credit after the death is paid to the nominee. Company make every year contributions to Life Insurance
Corporation of India (Group Superannuation policy) at specified percentage of the covered employee's salary.

The Company recognized ' 21.46 lakhs (Previous year ' 24.78 Lakhs) for superannuation contribution in the profit
and loss account

(ii) In respect of the State Plans (Employee State Insurance), an amount of ' 27.05 Lakhs (Previous year : ' 28.32 Lakhs)
has been recognized as expenditure in the Statement of Profit and Loss.

(ii) Provident fund

Eligible employees receive benefits from a provident fund, which is a defined contribution plan. Aggregate
contributions along with interest thereon are paid at retirement, death, incapacitation or termination of employment.
Both the employees and the Company make monthly contributions to a government administered pension fund on
behalf of its employees.

The Company recognized ' 224.90 Lakhs ( Previous Year ' 220.86 Lakhs ) for provident fund contribution in the
Statement of profit and loss.

Defined Benefit Plans
(i) Gratuity

The Company provides for gratuity, a defined benefit retirement plan (the "Gratuity Plan") covering eligible employees.
The Gratuity Plan provides a lump sum payment to vested employees at retirement, death, incapacitation or
termination of employment, of an amount based on the respective employee's salary and the tenure of employment.
Vesting occurs upon completion of five years of service. Liabilities with regard to the Gratuity Plan are determined
by actuarial valuation as of the balance sheet date, based upon which, the Company contributes all the ascertained
liabilities to Life Insurance Corporation of India (Group gratuity policy).

(iii) Leave encashment

The employees of the Company are entitled to compensate absence. The employees can carry forward a portion
of the unutilized accrued compensated absence and utilize it in future periods or receive cash compensation
at retirement or termination of employment for the unutilized accrued compensated absence. The company
records an obligation for compensated absences in the period in which the employee renders the services that
increase this entitlement. The Company measures the expected cost of compensated absence as the additional
amount that the Company expects to pay as a result of the unused entitlement that ha accumulated at the
balance sheet date based on the Actuarial certificate.

f) Deferred tax assets have not been recognised in respect of carried forward unabsorbed depreciation of '2,837.13 Lakhs
(Previous year '2,708.41 Lakhs) under Indian Income Tax Act 1961 based on the working of the Company and considering
the Virtual Certainty. If the Company were to recognise deferred tax assets, the profit for the year would be higher by '33.47
Lakhs for the current year and the cumulative deferred tax asset not recognised would be '737.65 lakhs.

g) Under the Indian Income Tax Act, 1961, the Company is liable to pay Minimum Alternate Tax (MAT) on book profits. MAT
paid can be carried forward for a period of 15 years and can be set off against the future tax liabilities. MAT is recognised as a
deferred tax asset only when the asset can be measured reliably and it is probable that the future economic benefit associated
with the asset will be realised. Accordingly, the Company has not recognised a deferred tax asset of '94.56 Lakhs for current
year and Cumlative deferred tax asset not recognised is '623.80 Lakhs.

41 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

a. Capital Management

The objective of the Company's capital management structure is to ensure sufficient liquidity to support its business
and provide adequate return to shareholders. Management monitors the long term cash flow requirements including
externally imposed capital requirements of the business in order to assess the requirement for changes to the capital
structure to meet the said objective. As part of this monitoring, the management considers the cost of capital and the
risks associated with each class of capital and makes adjustments to the capital structure, where appropriate, in light
of changes in economic conditions and the risk characteristics of the underlying assets. The funding requirement
is met through a combination of equity, internal accruals, borrowings or undertake other restructuring activities as
appropriate. .

No changes were made in the objectives, policies or processes during the year ended 31 March 2026.

b. Financial Risk Management Framework

Company's principal financial liabilities comprise borrowings, trade payables and Other financial liabilities. The
main purpose of these financial liabilities is to finance the Company's operations. The Company's principal financial
assets include Investments, Trade receivables, loans, cash and bank balances and other financial assets.

Risk Exposures and Responses

The Company is exposed to market risk, credit risk and liquidity risk. The Board of Directors reviews policies for
managing each of these risks, which are summarised below:

i) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices. Market prices comprise three types of risk i.e. interest rate risk, currency risk, and
Commodity risk.

Interest rate risk

The company obtains financing through borrowings. The Company's policy is to obtain the most favourable
interest rates available.

The Company's exposure to interest rate risk relates primarily to interest bearing financial liabilities. Interest rate
risk is managed by the company on an on-going basis with the primary objective of limiting the extent to which
interest expense could be affected by an adverse movement in interest rates.

Sensitivity Analysis

An increase/decrease of 100 basis points in interest rate at the end of the reporting period for the variable
financial instruments would (decrease)/increase profit before tax for the year by the amounts shown below. This
analysis assumes all other variables remain constant.

Foreign currency risk

Foreign currency risk is the risk that the fair value of future cash flows of financial instruments will fluctuate
because of changes in foreign exchange rates. The Company is exposed to foreign exchange risk arising from
transactions i.e. imports and exports of materials, recognised assets and liabilities denominated in a currency that
is not the company's functional currency.

Commodity Risk

The company has commodity price risk, primarily related to the purchases of Steel and Aluminium. However,
the company do not bear significant exposure to earnings risk, as such changes are included in the rate-recovery
mechanisms with the customers.
ii. Credit risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. The company is exposed to credit risk from its operating activities (primarily
for trade and other receivables), including short-term deposits with banks , and other financial assets.

Credit risk management

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails
to meet its contractual obligations. The company is mainly exposed to credit risk from credit sales.

The company is exposed to credit risk in respect of these balances such that, if one or more customers encounter
financial difficulties, this could materially and adversely affect the company's financial results. The company
attempts to mitigate credit risk by assessing the creditworthiness of customers and closely monitoring payment
history. The Company had taken credit risk insurance for the export receivable.

There have been no material impairments to trade or other receivables in the two years included within these
financial statements and no indication of enhanced customer credit risk.

Credit risk on cash and cash equivalents is considered to be minimal as the counterparties are all substantial
banks with high credit ratings.

42 FAIR VALUE MEASUREMENTS

i. Fair value hierarchy

Financial assets and financial liabilities measured at fair value in the statement of financial position are grouped into
three Levels of a fair value hierarchy. The three Levels are defined based on the observability of significant inputs to
the measurement, as follows:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either
directly (prices) or indirectly (derived from prices).

Level 3: Inputs for the asset or liability that are not based on observable market data.

ii. Financial assets measured at fair value through Other Comprehensive Income (FVTOCI)

a. Financial assets measured at fair value - recurring fair value measurements

44 OTHER STATUTORY INFORMATION

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property.

(ii) The Company has not traded or invested in Crypto currency or virtual currency during the financial year.

(iii) The Company has not advanced or loaned or invested funds to any persons or entities, including foreign entities
(Intermediaries) with the understanding that the Intermediary shall:

1) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the company (Ultimate Beneficiaries) or

2) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

(iv) The Company has not received any fund from any persons or entities, including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the Company shall:

a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Funding Party (Ultimate Beneficiaries) or

b) provide any guarantee, security or the like on behalf of the Ultimate Benefi ciaries.

(v) The Company does not have any transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such
as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

(vi) The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies
(ROC) beyond statutory period.

(vii) Relationship with companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of Companies
Act, 1956 are as follows:-